Important Notice
Deposits and withdrawals are not currently available for this coin.
cETH is a token that represents a stake in the Ether-based lending pool on Compound Finance, a decentralized finance (DeFi) project. It enables users to lend Ether (ETH) on the platform and earn interest in the form of cETH. As an ERC-20 fungible token, cETH can be freely traded and represents investment ownership rights within the Compound protocol.
cETH operates on the Ethereum blockchain, using smart contracts to facilitate the lending and borrowing of Ether. When users supply ETH to the Compound protocol, they receive cETH tokens in return. These tokens represent the user's share in the lending pool and accrue interest over time. The interest is reflected in the increasing exchange rate of cETH to ETH, allowing users to earn returns on their deposited Ether. Users can redeem their cETH at any time to retrieve their underlying ETH, along with any accrued interest.
cETH was introduced as part of the Compound protocol, developed by Compound Labs, which was founded by Robert Leshner in 2017. This development aimed to democratise access to credit services through blockchain and DeFi technologies. cETH became available around mid-2020, enabling users to lend Ether on the Compound platform and earn interest. Since its inception, cETH has grown significantly, becoming a key asset in the DeFi space with broad integration across various DeFi applications and protocols.